CHRISTIAN DIOR SE FINANCIAL RELEASE
- APPROVAL OF THE FINANCIAL STATEMENTS FOR the FISCAL YEAR ENDED JUNE 30, 2014
The Board of Directors met on October 16, 2014 to approve the financial statements for the fiscal year ended June 30, 2014, for which the main aggregates were as follows, corresponding to the figures disclosed on July 25, 2014:
| Fiscal year from July 1, 2013 to June 30, 2014 (a) (EUR millions) | |
| Revenue Profit from recurring operations Net profit of which: Group share Free cash flow(b) | 30,984 6,050 3,892 1,425 2,426 |
(a) Figures do not take into account IFRS 10 and 11 (on consolidation) which, for Christian Dior, apply only as of the fiscal year beginning July 1, 2014.
(b) Before financial investments, transactions relating to equity and financing activities.
Audit procedures were carried out and the audit report is in the process of being issued.
At the Shareholders' Meeting of December 9, 2014, the payment of a gross dividend of 3.10 euros per share will be proposed in respect of the fiscal year ended June 30, 2014. As an interim dividend of 1.20 euros per share was distributed on April 17, 2014, the final dividend will amount to 1.90 euros and will be paid as of December 15, 2014.
The details of the exceptional distribution of Hermès shares, announced in the release dated September 3, 2014, will be provided at a later date in a specific release.
- REVENUE FOR THE 1st QUARTER OF the 2014-2015 FISCAL YEAR
In the period from July 1 to September 30, 2014 the Christian Dior group recorded revenue of 7.8 billion euros, up 6% compared to the period from July 1 to September 30, 2013. Organic revenue growth was 4%.
Revenue at actual exchange rates was as follows:
| (EUR millions) | Period from July 1 to September 30, 2014 (3 months) | Period from July 1 to September 30, 2013(c) (3 months) |
| Christian Dior Couture LVMH Other activities and eliminations | 417 7,388 (6) | 368 6,990 (6) |
| Total | 7,799 | 7,352 |
(c) Figures have been restated to reflect the application of IFRS 10 and 11 (on consolidation) which have been applied by Christian Dior since July 1, 2014.
Christian Dior Couture achieved revenue for the quarter of 417 million euros, up 13% at actual exchanges rates and 13% at constant exchange rates compared to the period from July 1 to September 30, 2013. The first quarter was again marked by strong growth in retail revenue, which was up 16% at constant exchange rates. This growth dynamic was apparent in all regions and underscored the robust success of Maison Dior's collections.
LVMH booked revenue of 7,388 million euros from July 1 to September 30, 2014, reflecting organic growth of 4% compared to the same period in 2013. The trend remains comparable to that recorded in the first six months of 2014. All business groups grew except Wines and Spirits, which continues to be affected by destocking by distributors in China.
An improved growth rate in Europe and the United States during the quarter compensated for the slowdown observed in Asia.
Revenue of the Christian Dior group, by business group, was as follows:
| (EUR millions) | Period from July 1 to September 30, 2014 (3 months) | Period from July 1 to September 30, 2013 (3 months) (c) | Change at actual exchange rates | Organic growth(d) |
| Christian Dior Couture | 417 | 368 | +13% | +13% |
| Wines and Spirits | 948 | 1,032 | -8% | -7% |
| Fashion and Leather Goods | 2,647 | 2,428 | +9% | +2% |
| Perfumes and Cosmetics | 961 | 879 | +9% | +11% |
| Watches and Jewelry | 706 | 655 | +8% | +8% |
| Selective Retailing | 2,234 | 2,093 | +7% | +7% |
| Other activities and eliminations | (114) | (103) | - | - |
| Total | 7,799 | 7,352 | +6% | +4% |
(c) Figures have been restated to reflect the application of IFRS 10 and 11 (on consolidation) which have been applied by Christian Dior since July 1, 2014.
(d) With comparable structure and constant exchange rates. The structural impact, essentially linked to the integration of Loro Piana, is +2%.
In an uncertain economic and financial environment, the Christian Dior group will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. The Group will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market.
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APPENDIX 1: Revenue by business group and by period, excluding application of IFRS 10 and 11 (fiscal years ended)
APPENDIX 2: Revenue by business group and by period (current fiscal year)
This press release constitutes regulated information, and is available on the Company's website (www.dior-finance.com:
http://www.dior-finance.com).
Certain information included in this release is forward looking and is subject to important risks and uncertainties and factors beyond our control or ability to predict, that could cause actual results to differ materially from those anticipated, projected or implied. It only reflects our views as of the date of this release. No undue reliance should therefore be based on any such information, it being also agreed that we undertake no commitment to amend or update it after the date hereof.
APPENDIX 1
Christian Dior group - Revenue by business group and by period, excluding application of IFRS 10 and 11 (fiscal years ended) (*)
For Christian Dior, IFRS 10 and 11 (on consolidation) apply only as of the fiscal year beginning July 1, 2014.
Fiscal year ended June 30, 2014 (12 months)
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from July 1 to September 30, 2013 Period from October 1 to December 31, 2013 Period from January 1 to March 31, 2014 Period from April 1 to June 30, 2014 | 369 389 357 390 | 1,032 1,347 896 789 | 2,428 2,743 2,639 2,391 | 879 1,034 941 898 | 677 797 624 678 | 2,101 2,622 2,231 2,169 | (109) (122) (102) (104) | 7,377 8,810 7,586 7,211 |
| Total | 1,505 | 4,064 | 10,201 | 3,752 | 2,776 | 9,123 | (437) | 30,984 |
Corresponding periods in the previous year
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from July 1 to September 30, 2012 Period from October 1 to December 31, 2012 Period from January 1 to March 31, 2013 Period from April 1 to June 30, 2013 | 325 340 316 343 | 1,006 1,372 979 829 | 2,523 2,747 2,383 2,328 | 898 988 932 872 | 690 803 624 686 | 1,862 2,427 2,122 2,093 | (90) (110) (99) (69) | 7,214 8,567 7,257 7,082 |
| Total | 1,324 | 4,186 | 9,981 | 3,690 | 2,803 | 8,504 | (368) | 30,120 |
Fiscal year ended June 30, 2013 (2 months)
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Total | 237 | 541 | 1,600 | 551 | 467 | 1,406 | (34) | 4,768 |
Fiscal year ended April 30, 2013 (12 months)
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from May 1 to July 31, 2012 Period from August 1 to October 31, 2012 Period from November 1, 2012 to January 31, 2013 Period from February 1 to April 30, 2013 | 323 309 339 318 | 843 1,177 1,324 864 | 2,413 2,463 2,760 2,300 | 805 1,000 951 922 | 733 714 724 655 | 1,834 1,880 2,477 2,112 | (49) (102) (111) (97) | 6,902 7,441 8,464 7,074 |
| Total | 1,289 | 4,208 | 9,936 | 3,678 | 2,826 | 8,303 | (359) | 29,881 |
(*) Values rounded to the nearest whole number.
APPENDIX 2
Christian Dior group - Revenue by business group and by period (current fiscal year) (*)
Current fiscal year
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from July 1 to September 30, 2014 | 417 | 948 | 2,647 | 961 | 706 | 2,234 | (114) | 7,799 |
Corresponding period in the previous year - restated figures (a)
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from July 1 to September 30, 2013 | 368 | 1,032 | 2,428 | 879 | 655 | 2,093 | (103) | 7,352 |
(a) Figures have been restated to reflect the application of IFRS 10 and 11 (on consolidation) which have been applied by Christian Dior since July 1, 2014.
Corresponding period in the previous year - published figures (b)
| (EUR millions) | Christian Dior Couture | Wines and Spirits | Fashion and Leather Goods | Perfumes and Cosmetics | Watches and Jewelry | Selective Retailing | Other activities and eliminations | Total |
| Period from July 1 to September 30, 2013 | 369 | 1,032 | 2,428 | 879 | 677 | 2,101 | (109) | 7,377 |
(b) Figures do not take into account IFRS 10 and 11 (on consolidation) which, for Christian Dior, apply only as of the fiscal year beginning July 1, 2014.
(*) Values rounded to the nearest whole number.
http://hugin.info/159789/R/1863710/653964.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Christian Dior via Globenewswire
